Establishing a bad credit history is so easy even a monkey could do it. Credit cards are readily available to pretty much any student who wants one. Take a walk on a college campus and you can probably find a card company representative marketing his product. There is a variety of credit cards to choose from. Being out on their own for the first time never having to manage money coupled with readily available credit can be a huge plus when trying to build bad credit. I’ll show you exactly the techniques anyone can use to achieve a bad credit history as well as how bad credit will affect you.
Lousy credit will show prospective employers that you are not responsible so kiss that awesome job goodbye. Want to rent an apartment, forget it, no landlord in their right mind is going to rent to you with bad credit. You’ll get to pay more for insurance and utility companies will probably require a deposit before providing you service.
The best technique to ensure bad credit is to make late payments on your credit card or not pay at all. Nothing says “I’m not responsible” like failing to meet your obligations.
make sure to exceed the credit cards limit whenever possible. When you exceed the limit you can be sure the credit card company is going to raise your interest rate dramatically.
Another important technique is to always keep a high balance and never ever pay it off. That high balance will shave points off the old credit score quicker quicker than barbers straight razor shaves your dads mug.
When you don’t have cash for that beer or those concert tickets go ahead and use that cash advance. In addition use that credit card to balance your budget. This technique for lowering your credit score provides a double benefit because your credit card company is going to charge you a huge amount in interest for your cash advances.
Take advantage of every card offer you come across so you can keep transferring your balance. The key here is to make sure you close the card you transferred from as this will negatively affect your credit. As an added negative bonus you can make sure that each successive card has a higher interest rate.
Like I said it’s so easy to trash your credit. If by chance you want good credit you can have it by doing just the opposite of what I have told you to do above.
